Balanced Scorecard and Assessment Activity Essay

Words: 3666
Pages: 15

BSBMGT515A: Manage Operational Plan

Timothy Coy
Section 1

Assessment activity 1

In your own words, describe the purpose of the operational plan and its relationship to the strategic plan.
The purpose of the operational plan is to focus on shorter term objectives usually within 1 up to 3 years. For plans of 2 to 3 years, a more detailed breakdown of shorter timeframes should be included within the body of the document. An operational plan provides detailed information on planning, resource, implementation and funding for projects normally developed from the strategic plan. An operational plan should contain indicators to measure progress and performance. When written an operational plan will be defined by the
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Some industries do not have immediately recognisable measures but by study of the environment it is possible to be able identify key areas to be measured and provide input into future development and growth (KPI).

Measuring key areas of the operational plan ensure that continual improvement and best practice are maintained and that the plan is achieving expected outcomes.

Assessment activity 4

Explain the role of an impact assessment in contingency planning and outline the steps within it.

Also known as an impact and risk analysis an impact assessment is the developmental tool to assist in defining the structure and content of the contingency plan. By performing an impact assessment it aids in providing accurate diagnosis relating to the definition of risk as outlined by the operation plan, what may occur.

The impact of the risk on the operational plan and its projected outcomes, what is the rating of the risk, how will it manifest itself and how damaging will it be to the plan if it eventuates. Coupled with a series of alternatives, recognitions and formulated responses to the risks the information is fed back into the process and forms the contingency plan.

This information can be collated in the form of a matrix; the information can then be measured for weight, possibility of outcome, severity of impact and presented with formulated recommendations for risk minimisation or